If you have read this blog in the past year, you may have heard me use the term the Honua Kai Effect. Honua Kai is the first fee simple whole ownership vacation rentable condo complex developed in the Ka’anapali area over the last 20 years. The high volume of closes that have occurred at the development have helped muddy the Maui Real Estate Statistics for the better part of two years. There have been approximately 320 new developer sales with roughly an additional 15 resales.
Honua Kai has seen healthy activity in a tough real estate market with 60% of the units sold. It is easy to see why buyers like this complex. The complex offers a number of great amenities including three pools, a fitness center, kids camps, concierge services, a great restaurant and more along a beautiful stretch of sand on Ka’anapali’s North Beach. The individual condos have great floor plans and high end finishing and furnishings. The developer is starting to offer some good discounts and additional incentives to sell the remaining units. There are currently 20 individual units offered at prices that are up to 26% below the initial offering prices for the complex. The developer is also offering a year of free maintenance fees as an additional incentive. Prices range from $470,000 for one bedroom units up to $2,790,000 for premier ocean view three bedroom/three bathroom units. The Maui Real Estate Team may represent interested parties as buyer’s agents. Contact us for additional information on pricing, floor plans and locations of available inventory at Honua Kai.
